India's imports from Russia jump times amid Russia-Ukraine conflict

New Delhi: India’s imports from Russia multiplied nearly five times to $ 37.31 billion in the April-January period in FY23 owing to an increase in crude oil import from that country, according to the commerce ministry data.

IBNS • 16 Feb 2023, 12:50 pm

In 2021-22, Russia was India’s 18th largest import partner, accounting for USD 9.86 billion in imports.

In the last 10 months, Russia’s position with India in terms of trade jumped to the fourth position as it became the largest import source during the current fiscal.

Before the Russia-Ukraine conflict, Russia accounted for less than 1 percent of India’s import basket.